Mon, 19 May 2025

Mon, 19 May 2025 Morrisons says UK-EU deal will 'ease' price pressure

The EU-UK trade deal has been praised as a "leap foward" and "genuine progress" by some of the UK's major business groups.

* The UK-EU trade deal will reduce pressure on food prices, according to business leaders.
* Morrisons' CEO Rami Baitiéh said the deal will "ease a source of pressure on food prices" by removing trade barriers and costs associated with importing food from the EU.
* Asda's spokesperson added that the agreement has the potential to significantly reduce costs and bureaucracy for fresh produce imports from the EU.
* Studies suggest that greater red tape on trade has contributed to higher prices for foodstuffs imported to the UK from the EU in recent years.
* Food inflation, which measures price rises over a period of time, peaked at 19.2% in 2023 but has since fallen to 3% in the 12 months to March.
* Business groups such as the Confederation of British Industry (CBI) and the Food and Drink Federation (FDF) have praised the deal, calling it a "leap forward" and saying it marks a turning point in UK/EU relations.
* However, others said more still needs to be done to help UK businesses, with some urging the government to work closely with industry on the detail of the agreement.
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